Background: This case arises from CVS’s misrepresentations regarding its ability to control medical costs and health care utilization patterns in its Health Care Benefits segment.  During the relevant period, the company represented that its “integrated health care model . . . lowers overall health care costs” and that its “Health Care Benefits segment is expected to continue to benefit from Medicare and Commercial membership growth.”  In truth, however, CVS concealed the impact that escalating medical cost trends and health care utilization patterns had on the company at the time.

BFA's Role: BFA was appointed as Co-Lead Counsel for the putative class on December 5, 2024.

Status: BFA is preparing the amended complaint.